If one nation can produce greater quantities of a good than another nation, it has a(n)
a. comparative advantage in producing that good

Rational inattention refers to ________

A) the risk a firm runs when they do not pay attention to their customers B) firms making infrequent price decisions because of the time and effort those decision require C) the cost to the firm of losing sales from alienating customers D) all of the above E) none of the above

Answer the following statements true (T) or false (F)

1. In 2011, China overtook Mexico to become the number one country of origin of U.S. legal immigrants. 2. In 2007, immigrants made up a larger portion of the labor force in the U.S. than that in Canada. 3. The simple immigration model suggests that, for a high-wage country like the United States, immigration tends to reduce domestic output as well as the total income of businesses. 4. An increase in the mobility of labor across nations tends to decrease the world's output of goods and services.